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“Things Are Out Of Control”: Supply Chain Collapse Leads To Lumber Frenzy, Soaring Home Prices
“Things Are Out Of Control”: Supply Chain Collapse Leads To Lumber Frenzy, Soaring Home Prices With median prices for both existing and new homes at all time highs, and soaring at a record annualized rate of almost 20%… … increasingly more Americans find themselves priced out of homeownership, while still cautious banks refuse to lend […]
House Price Inflation in CPI is of Course Complete Baloney, but it Accounts for 1/4 of Total CPI
House Price Inflation in CPI is of Course Complete Baloney, but it Accounts for 1/4 of Total CPI With actual house price inflation based on market data, overall CPI would have jumped by 3.7%. Lifting the cover on the deception to keep CPI low. For most Americans, housing costs are the largest item in their […]
Vancouver Home Prices Turn Negative, First Time Since 2013
Vancouver Home Prices Turn Negative, First Time Since 2013 The sudden shift in the Vancouver housing market has been well documented. In November, home sales across all property types sank to a ten year low for the month. The drop is rather unprecedented considering the current economic backdrop suggests unemployment across Canada has plunged to […]
All US Homes Are Overvalued
All US Homes Are Overvalued Dorothea Lange Children and home of cotton workers at migratory camp in southern San Joaquin Valley, CA 1936 My long time pal Jesse Colombo, now at Real Investment Advice, recently linked on Twitter to a Zero Hedge article, which quoted CoreLogic as saying more than half of American homes are […]
Average house price in Canada up 17% in January to $470,297
Average house price in Canada up 17% in January to $470,297 House prices increased by an astounding 17 per cent in January, CREA said. (Patrick T. Fallon/Bloomberg) The average price of a Canadian home sold in January increased by 17 per cent to $470,297 compared to the same month a year ago. Home sales were higher […]
Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession
Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession Another month, and another confirmation that China’s hard landing is if not here, then likely mere months away. Overnight, the NBS reported that in March, Chinese house prices dropped in 69 of 70 cities compared to a year ago. According […]
Magnificent Housing Bubble Unravels in Much of Canada
Magnificent Housing Bubble Unravels in Much of Canada Canada’s housing bubble, which has been so much more magnificent than anything the US was ever able to conjure up, notched another gain in March, according to the Teranet-National Bank House Price Index, which rose 0.3% for the month. Prices were up in eight of the metropolitan […]
Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years
Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years For the 2nd month in a row, home prices in Calgary – corporate hub of Canada’s oil industry – have fallen. This is the biggest 2-month-drop in almost 2 years (and comes on the heels of yesterday’s news that Suncor is slashing jobs and capex). As Bloomberg […]
